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Are there ways to get paid more as an accountant?

If I want to be an accountant, are there other degrees or programs I could take to make more money? If so, is it worth it to take the extra classes and pay more money to get the degrees?

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Gabriel’s Answer

The best way to maximize your potential salary is through getting a CPA license, as many others here have already mentioned. In public accounting, most firms will give you regular raises/promotions but a CPA license is required for you to be promoted to manager (typically around the 5 year mark). In private industry (think of your typical corporate accounting job), the license is technically not necessary but it may be difficult to move up to more senior roles without it. I am sure there are some exceptions, but companies might promote or hire a candidate with a CPA license over an accountant that does not have it.
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Katie’s Answer

Hey there, I’m not personally an accountant or a CPA but I work in a company that is a large professional services organization that has a huge accounting practice and I know some CPAs as well. My piece of advice would be to start out at a company where you can learn a lot about accounting and apply your skills technically and eventually, you may be able to go work for a different company or start your own business and make the amount of money that you feel as appropriate based on your skills if you have your own accounting business, then you can charge what you think is valuable to your customer. And you will have complete ownership over who you hire your time and prioritization.
Thank you comment icon Thank you so much for the advice. Briley
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Anthony’s Answer

Hi Briley,

Related to what some people are saying - talk with your advisor about getting on a path to becoming a CPA. It is the gold standard of accounting, and many would say of business. There is a huge difference between an accountant and a CPA. CPA's are accountants but not all accountants are CPA's - it is a differentiator that certainly helps with earnings potential. At most Big Four accounting firms, it is required to be promoted to a manager. And usually, good corporate accounting related jobs (like controller, director of accounting, etc) require one to have held a manager+ role at a Big Four. So not having the certification also limits your opportunity for these jobs as well.

This is more important than any class you could take in college. This is real world recognition and prestige.

Good luck!

Anthony
Thank you comment icon Thanks for the advice. Briley
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Handel’s Answer

Hi Briley, it would be useful to have a conversion with your academic advisor/counsellor to ensure the fundamental courses are being taken. This will serve as a guide to tailor next steps, re-major/minor fields of study, double major etc.

Additionally, there are certifications that complement your degree(s) and put you on course for 'high' earning potential.

Managing your coursework with the academic advisor/counsellor will ease the anxiety and doubt of 'extra' unnecessary classes.

Good luck on your journey!
Thank you comment icon I appreciate this, thank you for the advice. Briley
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Jake’s Answer

Accounting is great as there is a strong career trajectory. Continue climbing the ranks and you may get to partner while at the same firm. You’ll probably earn $300-$500K as a partner, so it has high potential.
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Lewis’s Answer

In addition to an Accounting degree, obtaining a Certified Public Accounting certification will complement your degree and provide leverage when negotiating your salary.
Thank you comment icon Thank you, Lewis for the advice. Briley
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